Central Maine Healthcare and Prime Healthcare Foundation Finalize Affiliation Agreement

Overview

Deal Type Mergers & Acquisitions
Client & Transactional Partners Central Maine Healthcare
Prime Healthcare Foundation
Our Role Sell-Side Advisor

Summary

Central Maine Healthcare and Prime Healthcare Foundation have finalized their affiliation agreement, allowing the residents of central, western, and Midcoast Maine to continue to have access to the highest-quality, most advanced health care in the region. 

Cain Brothers was engaged by Central Maine Healthcare as its exclusive advisor based on its expertise in the hospital and health system sector and strong understanding of the New England market. Cain Brothers engaged with parties interested in continuing CMH’s mission and finalized an affiliation agreement with Prime Healthcare Foundation. Terms include continued local governance and management, ongoing community commitment, and significant capital investment, and are subject to regulatory approval.

Central Maine Healthcare is an integrated health system serving more than 400,000 residents and includes 600 physicians and advanced practice professionals in more than 40 locations, as well as Central Maine Medical Center in Lewiston, a 250-bed, not-for-profit, Level III Trauma Center that serves as the base for LifeFlight of Maine, the state’s only medical helicopter. CMH also operates the Bridgton and Rumford hospitals, two 25-bed critical-access hospitals serving the Lakes Region and River Valley communities, respectively.

CMH includes two long-term care communities, Bolster Heights, an 84-bed assisted living facility, and Rumford Community Home, an 85-bed, active-living community, as well as Maine’s first nursing and medical imaging programs, Maine College of Health Professions. 

Prime Healthcare is one of the nation’s leading health systems, serving more than 2.6 million patient visits annually. With nearly 45,000 employees and physicians, Prime operates 44 hospitals and more than 300 outpatient locations in 14 states. Fourteen of the company's hospitals are members of the Prime Healthcare Foundation, a 501(c)(3) not-for-profit public charity. Based in Ontario, Canada, Prime is nationally recognized for quality care and has been named a Top 10 and Top 15 Health System by Truven Health Analytics. Its hospitals have been named among the nation’s “100 Top Hospitals” 69 times and have received more Patient Safety Excellence Awards from Healthgrades than any other health system in the past eight years. 

CMH and PHF

Casey Wade

KeyBanc Capital Markets Inc., Member FINRA/SIPC, and KeyBank National Association ("KeyBank N.A.") are separate, but affiliated companies. Securities products and services are offered by KeyBanc Capital Markets Inc. and its licensed securities representatives.

Securities products and services: Not FDIC Insured • No Bank Guarantee • May Lose Value

Banking products and services are offered by KeyBank N.A. All credit, loan, and leasing products are subject to collateral and/or credit approval terms, conditions, and availability and subject to change.

Recent Deals

March 2025

integer

$1 Billion

Convertible Senior Notes due 2030

Co-Manager

integer
March 2025

sandbrook capital

acquired

intellirent

Senior Secured Credit Facilities

Sole Lead Arranger
Administrative Agent

intellirent
March 2025

imagefirst

a portfolio company of

caleracapital

$625 Million

Senior Secured Credit Facilities

Joint Lead Arranger
Joint Bookrunner

imagefirst
March 2025

terra vet

has received an entity-level preferred equity investment from

sculptor

Sole Placement Agent

terravet-reit-inc

Connect With Us

Find an Expert